GAP REMAINS
The markets tried earlier to close the gap but so far no dice. The SPY continues to trade betweeen its Pivot Point of 128.9 and support at 128.4, so it may just be one of the Monday's where the gap doesn't fill. However, the bulls have a few things going including the relative outperformance of the SMH which is only down a dime in light of the 63 point crushing on the DJIA. Speaking of the DJIA, only 5 of the 30 big caps are higher as I type. The internals are still 1,700 losers over winners but they are not getting any worse. So may be a light at the end of the tunnel or a ray of hope or something like that.
posted by DAVID at
11:30 AM
3 Comments:
Slow motion price action. Does not feel like enough umph to cross the hurdles.
Then again I could be wrong:0.
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